FHA changes policy to allow more condo sales

08/5/2013 | Inman News (free content)

Homeowners associations and condo owners can breathe a sigh of relief because the Federal Housing Administration has backed down from a policy that would significantly limit the number of condos eligible for FHA loans, Ken Harney writes. The FHA previously demanded that communities revise their covenants, conditions and restrictions or face certification rejection, but has now proposed a "workaround" option to resolve the issue, Harney writes.

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